C.7. Local Trends in Farm Income and Expenditures as Reported by Banks in Each Region Percent _____________________________________________________________________________________________________ Farm income Farm household spending Farm capital spending ________________________________________________________________________________________ Quarter Lower Same Higher Lower Same Higher Lower Same Higher _____________________________________________________________________________________________________ Ninth (Minneapolis) Federal Reserve District (MI*, MN, MT, ND, SD, WI*) _____________________________________________________________________________________________________ 2005: Q4... | 26 32 42 4 55 41 18 50 33 2006: Q1... | 37 38 25 6 62 32 22 56 23 Q2... | 40 47 13 9 59 32 27 53 20 Q3... | 52 41 7 20 59 21 47 46 7 Q4... | 35 27 38 17 54 29 34 40 26 2007: Q1... | 21 29 50 11 50 38 19 41 40 Q2... | 10 39 51 4 55 41 7 50 43 Q3... | 2 32 66 2 50 48 5 49 47 Q4... | 2 12 86 2 28 71 2 21 78 _____________________________________________________________________________________________________ Tenth (Kansas City) Federal Reserve District (CO, KS, MO*, NE, NM*, OK, WY) _____________________________________________________________________________________________________ 2005: Q4... | 30 49 21 13 58 30 27 56 16 2006: Q1... | 31 52 16 13 58 29 27 58 15 Q2... | 37 57 6 15 60 25 37 54 9 Q3... | 42 48 10 15 54 31 31 59 10 Q4... | 25 43 32 8 62 29 18 60 22 2007: Q1... | 18 38 44 5 59 36 14 53 33 Q2... | 13 49 39 7 55 38 12 56 32 Q3... | 6 38 56 5 52 44 8 51 41 Q4... | 7 25 68 5 47 48 7 38 55 _____________________________________________________________________________________________________ Twelfth (San Francisco) Federal Reserve District (AL, AZ, CA, HI, ID, NV, OR, UT, WA) _____________________________________________________________________________________________________ 2005: Q4... | 24 29 48 14 62 24 24 48 29 2006: Q1... | 36 45 18 18 68 14 27 55 18 Q2... | 35 48 17 17 65 17 32 55 14 Q3... | 23 55 23 5 86 9 23 59 18 Q4... | 22 44 33 11 72 17 17 67 17 2007: Q1... | 20 30 50 0 75 25 5 55 40 Q2... | 10 15 75 5 70 25 10 45 45 Q3... | 5 11 84 5 53 42 5 26 68 Q4... | 5 0 95 11 42 47 11 26 63 _____________________________________________________________________________________________________ * State falls only partly within the indicated Reserve District. n.a. Not available. Source. Federal Reserve Bank quarterly surveys of agricultural credit conditions at commercial banks. 41